According to analysts surveyed by The Wall Street Journal this week, U.S. crude-oil inventories are expected to see a slight increase. The average estimate from eight analysts and traders suggests that commercial crude stockpiles will rise by 500,000 barrels for the week ended Oct. 27. However, while five of the forecasters are expecting an increase, three are predicting a decrease. The range of expectations spans from a decrease of 2.6 million barrels to an increase of 3.5 million barrels.
Gasoline Inventories Forecast: Decrease
The same survey also reveals that gasoline inventories are expected to decrease by 500,000 barrels. Estimates range from a decrease of 2 million barrels to an increase of 800,000 barrels.
Decline Expected in Distillates Stocks
Stocks of distillates, primarily diesel fuel, are projected to decline by 1.9 million barrels. Forecasts vary from a decrease of 3.62 million barrels to a decrease of 300,000 barrels.
Refinery Use Likely to Increase
It is anticipated that refinery use will experience a small increase of 0.3 percentage points. Forecasts suggest a range from a decline of 0.5 percentage points to an increase of 1.5 percentage points. Two analysts did not provide a forecast.
Note: All numbers are in millions of barrels, except for refinery use, which is expressed in percentage points.
Crude | Gasoline | Distillates | Refinery Use Commodity Research Group | 3.5 | 0.8 | -0.3 | 0.2 Confluence Investment Management | 2 | -1.5 | -1 | 1.5 DTN | 1.2 | -0.75 | -2.4 | 0.4 Excel Futures | 1.604 | 0.734 | -3.62 | 0.2 Spartan Capital Securities | -2.6 | 1.2 | -2.9 | n/f Mizuho | 2 | -1 | -1 | -0.5 Price Futures Group | -2 | -2 | -2 | 0 Tradition Energy | -1.5 | -1.1 | -2 | n/f Average | 0.5 | -0.5 | -1.9 | 0.3